Newport Beach-based Hager Pacific Properties recently acquired a two-building industrial complex totaling 145,000 square feet in the South Bay submarket of Los Angeles County. The complex was sold for a total consideration of $17.25 million, according to Michael Collins, vice chairman at DAUM Commercial Real Estate Services.

The asset consists of one 108,000 square-foot building and one 37,000 square-foot building, each leased to a single tenant. Collins represented the seller, a private party, in the transaction.

“Our client owned a fully leased well-located asset in the highly desirable South Bay submarket that had environmental concerns,” explains Collins. “We were able to source a buyer who is well equipped to address the challenges, ultimately closing at a price based on the current status of the property. This is a prime opportunity for the buyer to leverage previous experience remediating environmental issues and implement a proven value-add strategy to realize the upside.”

The location is at 13255 S. Broadway and 360 W. 132nd St. in unincorporated Los Angeles County. This is one of the tightest industrial submarkets in the county, with compressed vacancy rates near 2 percent, according to a recent DAUM report.